Balwinder Singh, son of Speak Asia’s Harendar Kaur, was arrested by Indian authorities at Chennai International Airport earlier this week.
Speak Asia Online @ BehindMLM
The one person who might have led authorities to Manoj Kumar’s stashed Ponzi funds, has been granted bail. Renu Sharma, wife of Manoj, was arrested by authorities last October. In January the EOW filed a chargesheet against Renu, accusing her of laundering over a hundred million USD. Renu was a signatory and Director of Tulsiyat [Continue reading…]
Following on from the arrest of Renu Sharma late last year, Mumbai’s EOW have now filed a chargesheet against the accused.
Despite it being over five years since Indian police first filed a First Information Report on Speak Asia, turns out there are still dedicated officers working the case. Two Speak Asia suspects were arrested last week, one the wife of Speak Asia CEO, Manoj Kumar Sharma.
This one totally flew under the radar, but it has come to my attention that Speak Asia’s Harender Kaur is wanted by Interpol.
If I could pinpoint the moment Indian regulators failed SpeakAsia’s victims, it would a Judge unfreezing the scheme’s bank accounts for a few weeks mid-2011. CID investigators immediately filed an appeal and had the accounts refrozen, but by then the damage had been done. Harendar Kaur, one of the masterminds behind the Ponzi scheme, rushed [Continue reading…]
Following on from the arrest of several Speak Asia ringleaders early last month, comes the announcement that prosecutions against the accused are expected to begin shortly.
Possibly setting a record for longest-running MLM Ponzi criminal investigation ever, news today from Indian regulators in the ongoing Speak Asia case. On the 31st of January, six new arrests were made by the Economic Offenses Wing (EOW) in Mumbai.
If we learnt anything over the roughly three years it took Mumbai’s EOW to file a chargesheet against Speak Asia, it’s that Indian regulators were woefully ill-equipped to deal with the smoke and mirrors that accompanies modern Ponzi schemes. With millions of dollars at their disposal, those who ran the scheme paid off an army [Continue reading…]
Two and a half years in the making and despite Speak Asia’s best attempts to thwart investigations into the company at judicial and local levels, Indian authorities on the 16th of December finally filed a chargesheet against Speak Asia. “The accused have been booked for forgery, criminal conspiracy and cheating among other charges under the [Continue reading…]